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USDCNH is on the front foot after........>

CHINA YUAN
CHINA YUAN: USDCNH is on the front foot after breaking above s-t down trendline
resistance from the Dec 10 high. The pair remains bid despite a slight recovery
in risk appetite, with early weakness finding some support at the 6.90 level.
The pair last trades at 6.9064, at its 21-dma. Above here brings the key 50-dma
into focus at 6.9241, above which would reignite the broader bullish trend. 
- US-China 2year interest rate swap spreads have edged higher as Chinese rates
head back to cycle lows amid the ongoing drop in global inflation pressures. 

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